All Forum Posts by: Travis Vizier

Hey Covington, welcome to BP!

Thanks Brent!

Does it matter if the remaing balance of the initial loan is carried by a private lender vs bank in terms of getting the property refinanced?

Evening all

Currently, I pay around $90/mo for insurance to State Farm on my rental property valued at $130,000.

I am curious as to what an average rate for most on here is?

Also, what coverages SHOULD I have so as to protect myself but not necessarily pay for unneeded bells & whistles

TIA

Semper Gumby

Also, how would the original purchase be set up so that I can Refinance in 6mo?

thanks Justin

The scenario I'm working on is this:

Purchase price $80,000.  

Rehab $15-$20,000

Based on comps in neighborhood (that I've had another SFH in for 5 yrs) is $140-$150,000

Current rent on street $1,250-$1,400

Private money lender willing to loan whatever I need to make it happen (he trusts my judgement)

Never having used a private lender, I want to set up the deal so that its a win/win for both & I can use him again in future deals.

I am a fairly high earner from my regular job so I do have cash available 

Thanks in advance

thanks All

That's what I was thinking but needed confirmation 

I will provide the 25% down payment.  Working on a couple deals- I'll keep you all updated

Hello all

I have a private lender who is looking to diversify his investment allocation/ currently all in stocks/401k. How can I form a deal that is beneficial to both he & I in regards to BRRRR strategy?

He is interested in providing a lump sum, rinse & repeat kind of deal.

Thanks in advance

Thanks guys, I really appreciate the advice!

Thanks Bryan, it's just hard to swallow paying all that interest on Stafford & Grad plus loans!

Thank you Ann
Will do